Short, to flip around 1300, or 1280
I took a short to wait to see how the macro markets plays out. There was a break of the upwards channel and a retest of the top bound failed, but this could again be breached to fake.
I think the momentum needs to reset and the ADX needs to flip, to convince investors this isnt a fool's rally.
I am doubting the rally but comfortably sold for some profit already. Ill be looking to enter long again on tuesday or wednesday around the 0.5 fib.
If there isn't a deep retracement the price could easily bounce from the 200 MA/EMA @1300, and see a very bullish continuation. But if that happens I will be more cautious going forward as that would mean a shallow market.
Goals for bullish continuation are 1800 to flip weekly trend, and 1385 to break daily resistance.
I think the momentum needs to reset and the ADX needs to flip, to convince investors this isnt a fool's rally.
I am doubting the rally but comfortably sold for some profit already. Ill be looking to enter long again on tuesday or wednesday around the 0.5 fib.
If there isn't a deep retracement the price could easily bounce from the 200 MA/EMA @1300, and see a very bullish continuation. But if that happens I will be more cautious going forward as that would mean a shallow market.
Goals for bullish continuation are 1800 to flip weekly trend, and 1385 to break daily resistance.
Comment:
This played out very well. I was suprised that there was little pullback, but all in for the rally/.